https://www.taxtmi.com/caselaws?id=282606 The court held that the reopening of the assessment by the Assessing Officer after the expiry of four years was invalid as it was based on a change of opinion without any new tangible material indicating escaped income. The court emphasized that reopening assessments cannot be done solely on a change of opinion and must be supported by new evidence. The lack of justification for the reopening under Section 147 of the Income Tax Act led to the court quashing the notice and rejecting the petitioner's objections. en-us Thu, 09 Aug 2012 00:00:00 +0530 Wed, 14 Aug 2019 14:44:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282606 The court held that the reopening of the assessment by the Assessing Officer after the expiry of four years was invalid as it was based on a change of opinion without any new tangible material indicating escaped income. The court emphasized that reopening assessments cannot be done solely on a change of opinion and must be supported by new evidence. The lack of justification for the reopening under Section 147 of the Income Tax Act led to the court quashing the notice and rejecting the petitioner's objections. Case-Laws Income Tax Thu, 09 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282606